APR 18 WEEKLY CHARTS POST!

 

CAPTAIN EWAVE LONG TERM CHARTS UPDATE!

 

Please click here for the Bob Balan Ewave Basics Handbook… which the Captain highly recommends:

https://captainewave.com/wp-content/uploads/2021/04/Ewave-Basics.pdf

 

Don’t try to learn Ewave all in one day.  Focus on when the Captain is buying or selling, and the big wave counts. 

From there, add more detail to your study.

 

Gold: 

 

Weekly Gold Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821gold.png  

Long Term Update:

 

Gold was strongly higher this past week, reaching a high of 1784.70, and closing at 1780.20!

                                                                          

Wave ^ii^ is now officially complete at the 1673.30 low and we are now starting to rally sharply higher in wave ^iii^.

 

Our next challenge will be a break and close above our red horizontal resistance at around 1770.00/1790.00 and then a further break above our red downtrend line that are both shown on the Weekly Gold Chart.

 

We are now working on wave (i) of ^iii^ and within wave (i) we completed wave -i- at 1738.00 and all of wave -ii- at 1677.30. We are now rallying in wave -iii- which has the following possible endpoints:

 

-iii- = 1.618-i- = 1782.70;  (we are there)

-iii- = 2.618-i- = 1846.70.

 

Last Friday we reached our initial projection with the 1784.70 high, although we suspect (and cheer) that wave -iii- is likely going to extend to our second projected endpoint of 1846.70, before all of wave -iii- ends.

 

 After wave -iii- ends wee expect a wave -iv- correction that retraces between 23.6 to 38.2% of the entire wave -iii- rally.

 

Our initial projection for the end of wave ^iii^ is:

 

^iii^ = 1.618^i^ = 2687.80.

 

Longer term our current initial projected endpoint for all of wave *iii* is:                                                 

 

*iii* = 1.618*iii* = 2306.30.

 

We suspect that wave *iii* will likely extend since wave ^iii^ of *iii* is now projected to be higher than the current complete wave *iii* projection.     

                              

Active Positions: Long with puts as stops!  

 

Silver:

 

Weekly Silver Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821si.png

 

Long Term Update:

 

Silver was also strongly higher this past week, reaching a high of 26.38, and closing at 26.10. 

                                                                  

Wave ii is officially complete at the 21.96 low and we are now rallying higher in wave iii of 3, which has an initial projected endpoint of:

 

iii = 1.618i = 51.52!!

 

Within wave iii, we completed wave (i) at 29.91 and all of wave (ii) at the 23.74 low. We are now rallying in wave (iii) of iii, which has the following initial projected endpoint:

 

(iii) = 1.618(i) = 34.22.

 

Expect higher sharply higher prices moving forward.

 

Longer term our initial projection for the end of wave 3 is:

                                                             

3 = 1.618(1) = 86.50   

 

In the very long term we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;

 

1 = 49.82;

2 = 11.64;

3 = First projection is 86.50.

 

Active Positions: Long at 14.85, with a put as a stop.

 

US 10 Year Bond Yield:

 

Long Term Update:

 

The 10 Year US Bond Yield was sharply lower this past week reaching a low of 1.564%, closing at 1.573%.

 

It appears that the bear market in US interest is now over and it ended at the 0.398% low.

 

Over the next couple of decades we envision this market rallying back to the all-time in rates that we saw in the 1980’s!

 

This multi-decade rally should be impulsive and we are now working on our very first impulsive sequence. Within that impulsive sequence we are rallying in wave (iii) which has an initial projected endpoint of:

 

(iii) = 1.618 (i) =1.910%.

 

We expect to move higher in the weeks ahead as we head toward the 1.910% level. We are currently working on the internal subdivision count within wave (iii).

 

After wave (iii) ends we expect a wave (iv) drop that retraces between 23.6 to 38.2% of the entire wave (iii) rally.

 

Active Positions: Flat!

 

Crude Oil:

 

Weekly Crude Oil Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821oil.png

 

Long Term Update:                                                                          

             

Crude was sharply higher this past week reaching a high of 63.94, closing at 63.19!

 

It does look like wave -i- is complete at the 67.98 high so we should still be falling in developing wave -ii-, which has the following retracement levels:

 

50% = 50.81

61.8% = 46.81.

 

We are also challenging our multi-year breakout of our major downtrend line and this week we managed to close above that line.

 

We are still short of retracement levels for our wave -ii- correction, so we still expect lower prices ahead.

 

We expect a drop at least back to our 50% retracement level of 50.81, before all of wave -ii- ends.

 

After wave -ii- ends we expect a very sharp rally higher in wave -iii-.

 

We continue to rally in wave -i- of (iii), with all of wave (iii) having and initial projected endpoint of:

 

(iii) = 1.618(i) = 93.96.

 

In the long term we are now rallying in wave C that has the following projections:

 

C= A = 153.77;

C= 1.618A = 244.78.

 

Suncor:                                                                   

 

Weekly Suncor Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821su.png

 

Long Term Update:

 

Suncor was higher this past week reaching a high of 21.60, closing at 20.89.

 

We continue to rally sharply higher in wave iii!

 

Our initial projection for the end of wave iii is:

 

iii = 1.618i = 30.73.

 

Within wave (i) of iii it looks like wave -i- ended at the 19.94 and likely all of wave -ii- at the 16.29 low. If that is the case then we should now be rallying sharply higher in wave -iii-, which has an initial projected endpoint of:

 

-iii- = 1.618-i-=31.29.

 

Active Positions: Long crude, with puts as a stop. Long Suncor!                                

 

SP500:

 

Weekly SP500 Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821sp.png

 

Long Term Update:

 

The SP500 was sharply higher this past week reaching another all-time high at 4191.31, closing at 4185.47.

 

We now need to take a look at our internal wave count for all of wave v of V, as we suspect are current count is not correct and needs updating.

 

Active Positions: Flat.

 

USDX:

 

Weekly USDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821usd.png

 

Long Term Update:

 

The USDX was lower this past week reaching a low of 92.47 closing at 91.54.

 

Wave -iv- is now complete at the 93.47 high, so we should now be heading lower in wave -v-.

 

WE expect further losses!

 

Active Positions: Flat.

 

CDNX: 

 

Weekly CDNX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821cdnx.png

 

Long Term Update:

 

The CDNX was lower this past reaching a low of 922.57, closing at 944.46.

 

Longer term we continue to rally sharply higher in wave .iii. which has an initial endpoint of:

 

.iii. = 1.618.i. = 1357.02    

 

Wave .iii. is now subdividing and if that is the case then we should now be rallying sharply higher in wave -iii- of .iii. Our initial projected endpoint for all of wave -iii- is:

 

-iii- =1.618-i- = 1592.50.                           

 

Our minimum long-term target for the end of wave C is 3341.56.

 

Active Positions: Long the GDXJ, for a long term hold!

 

GDX: 

 

Weekly GDX Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821gdx.png

 

Long Term Update:

 

The GDX was stronger higher with breakout action this past week, reaching a high of 36.12, and closing at 36.03!

 

Wave *ii* is officially complete at the 30.64 low and we are rallying sharply higher in wave *iii*, which has the following projected endpoint:

 

*iii* = 1.618*i*= 78.63!

 

Within wave *iii*  we are now working on wave ^i^ of *iii*, where completed wave -i- at 34.48 and wave -ii- at 31.65. We are now rallying in wave -iii-, which has the following projected initial endpoint of:

 

-iii- = 1.618-i- = 37.86.

 

We said last week: “The big event next week should be a break and close above our multi-mouth upper red trendline that has defined the upper bounds of our wave ^ii^ correction”

 

We got that breakout!

 

Our current projection for the end of 3 is:

 

3 = 2.618 (-1-) = 66.37!                

 

We do have higher targets also.

 

Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops and we added to our long positions at 31.50.

 

Bitcoin: 

 

Weekly Bitcoin Chart: https://captainewave.com/wp-content/uploads/2021/04/ewapr1821bit.png  

Long Term Update:

 

Bitcoin was higher this past week, reaching another all-time high of 64860, closing at 1194, closing at 60867.

 

Bitcoin started trading in 2014 and as you can see in our Bitcoin Weekly Chart that it has risen sharply form that inception date.

 

In the longer-term, Bitcoin appears to rising in an impulse fashion and we are getting close to finishing this first impulsive sequence with wave (3) of 1 or A ending at the 58349 high.

 

All of wave (4) ended at the 43665 low and we still rallying in wave (5).

 

We have now satisfied the minimum requirements for a completed wave (5) rally at the current high.

 

This current wave (5) rally will complete a 5wave impulsive sequence for this market. Either a wave 1 or A will be completed.

 

The next move for this market will be a 50 to 61.8% retracement correction in either wave 2 or B of the entire move in bitcoin or all of wave A ended and the next big move will be a wave b drop that also retraces between 50 to 61.8% of the entire wave A rally.

 

In either case a drop of between 20000 to 25000 points should be expected after the top is reached!

 

Editor Note:  The Captain wrote this update Saturday… before the Saturday night landslide event happened…. And he’s been clear for weeks that this type of event was imminent, basis the end of wave 1/A.  Bitcoin enthusiasts and those new to the sector will get a major buy opportunity, perhaps a historic one, as the reaction manifests itself.

 

Have a great day,

Thanks!

Captain & Crew